Annual report pursuant to Section 13 and 15(d)

DEBT (Tables)

v2.4.0.8
DEBT (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Weighted-average interest rate
The weighted-average interest rate for notes payable, bank overdrafts and current maturities of long-term debt at December 31, 2013, 2012 and 2011, was as follows:
 
December 31,
 
2013
 
2012
 
2011
Weighted average interest rate
2.59
 
3.21
 
4.19
Reconciliation of maximum capacity to amount available under the facility
A reconciliation of the maximum capacity of our revolver to the amount available under the facility was as follows:
In millions
Revolving
Credit Capacity
at December 31, 2013
Maximum credit capacity of the revolving credit facility
$
1,750

Less: Letters of credit against revolving credit facility
23

Amount available for borrowing under the revolving credit facility
$
1,727

Summary of long-term debt
 
December 31,
In millions
2013
 
2012
Long-term debt
 
 
 
Export financing loan, 4.5%, due 2013
$
—

 
$
23

Senior notes, 3.65%, due 2023
500

 
—

Debentures, 6.75%, due 2027
58

 
58

Debentures, 7.125%, due 2028
250

 
250

Senior notes, 4.875%, due 2043
500

 
—

Debentures, 5.65%, due 2098 (effective interest rate 7.48%)
165

 
165

Credit facilities related to consolidated joint ventures
92

 
88

Other
65

 
69

 
1,630

 
653

Unamortized discount
(48
)
 
(35
)
Fair value adjustments due to hedge on indebtedness
49

 
88

Capital leases
92

 
53

Total long-term debt
1,723

 
759

Less: Current maturities of long-term debt
(51
)
 
(61
)
Long-term debt
$
1,672

 
$
698

Principal repayments on long-term debt
Principal payments required on long-term debt during the next five years are as follows:
 
Required Principal Payments
In millions
2014
 
2015
 
2016
 
2017
 
2018
Payment
$
51

 
$
55

 
$
82

 
$
8

 
$
17